Universal Energy Corp (UVSE)

[brodyterrier]

My outlook which was cautiously optomistic is now not as favorable. I know others don't but I see great significance in the fact that there has been no proxy issued for a meeting to increase the outstanding shares. The shares were maxed out around 3 months ago. The CD provisions require a stockholders meeting to be held within sixty days to increase the authorized stock to allow for additional conversions. No such meeting has been held or scheduled so why haven't the CD holders forced the company to act? My theory is that something potentially very negative is going on that has caused the CD holders to be less concerned about authorizing new shares than about something else which could be more hazardous to their financial position.

Why could it not be something positive going on? Here again my theory is that anything positive would require that the company have cash or credit available. I just don't see how they could have any positive cash flow. If they did IMHO they would not have to have done yet another CD issuance a few months ago. Add to this the lack of timely 10-K filing.
When you are trying to bail out the boat you are not that worried about goint to a non reporting status.

JUST MY OPINION AND I MILLIONS OF REASONS TO HOPE THAT I AM WRONG.